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, brought to you as a public service by your television provider. >> a look now at technology and entrepreneurship from a recent conference in detroit held at wayne state university. speakers include aol founder steve case, tim draper. former u.s. chief information officer. this is about two hours. >> thank you so much for getting us started. thank you all for being here. it's really exciting to finally have this thing and we. we've been working on for an awfully long time. what we do at techonomy is mostly up to now it's been sort of retreat like invitation only, leaders thing in the desert and i would really want to get our message out in the broader community, particularly in the united states where we think there's some messages that are just not sufficiently understood. and that's what you, i hope you will be hearing throughout the day today. and the message is, these events are focused on four issues. u.s. competitiveness, the future of jobs, economic growth, which is adequate to the first to come and then the revival of our cities with detroit as case study number one.
that there are cheaper technological solutions to our national security problem and the most obvious exponents of this is drones and other remote wrote -- invading a country, you can just the public perceives and many of thes received drone along its border. there's a fascinating strategic conversation about whether that is correct and will work out over time. there's also as anyone who has worked in this field knows, the fact that technology is rather expensive and that also justifies the need for an endless growing budget if your security is completely dependent on keeping your high tech offense ahead of both lower tech defense your adversaries will navigate against you. so technology is put forward and believed by the public to be a budget panacea but it is not. the third point that should be made about appetite is -- i would go further and say we saw in this election at the presidential level and the congressional level went across party lines and effort to make candidates pay for expressing willingness to cut pentagon spending and had zero effect and the massive infusion of corporate cont
to manhattan, kansas. >> may know more about technology than a tomcat's knows about baking gingerbread. >> welcome to our viewers. israel killed the military commander of hamas and launched a series of attacks. hamas vowed in this would open the gates to hell. military action will continue. >> for the people of gaza, it looked like a war, and as in most wars, civilians are caught up in the violence. the first target today was the biggest hamas's most senior military leader was typify and -- hit by a military strike. he died instantly. hamas says this is a major provocation. good >> they will pay a price for this, because he was one of our most exceptional leaders. >> she sat at the top of the military wing. tonight israel published these images. the army released video footage of him being tracked and the moment when his car was hit. israel said the strike followed a wave of rocket attacks from gaza. >> i can just elaborate the target was to protect israeli civilians. they have been under constant rocket attacks for the last year. >> gaza is expected to face more casualties, among them
president doesn't understand when you invest like that in one company makes a harder for technology generally because other entrepreneurs of the same field their opportunity to get capital. who wants to put money into a solar capital -- company when the government picked one of their choice? excellent question. i wrote the book we're spending about $12 billion per year to make electricity more expensive. that it is 6 billion of tax breaks and direct and chairs. this makes no sense in hers low income americans. we brainwashed children toothache greed it is good to think about green products and jobs that yet to we cannot define what a green job it is. that has five definitions of the green job as a discounted. energy from renewable sources. energy efficiency. energy pollution reduction in removal. natural resource conservation. environmental compliance education and training and public awareness. when i was testifying on capitol hill, they had a paper cup in front of me. most the time it it is just a bottle of water. it said architect of the capital and power to save energy on the ot
and involvement in the cyber war. technology drives everything we do. the internet has made is more connected than at any other time. the vast majority of our infrastructure reside in private sector. let me repeat that. the vast majority of our infrastructure reside in the private sector. the national security risks and the economic risks are still with the private sector. the government does not do it alone. they do it in concert with our partners and our partners are the private sector. for those of you were talking to earlier, with the work for the government or the private sector, you can contribute no matter where you are in whatever your professional desire is. this private-sector holds a lot of data and these are pretty profound -- their protection of the priorities is he has a list of priorities. this is the top five. the cyber threat is among the most serious challenges we face as a nation, and america's prosperity will depend on cyber security. the united states does have a huge challenge. we have a much larger body of sensitive and potentially damaging information to protect in most cou
. it was the place where the newest technology, the best gadgets, the latest fads seemed to originate. seemingly exotic political causes, women's liberation, gay rights, ageism, always seemed to get their start on the streets of the united states orthopedic in the courts and legislatures. for me, tuesday's election brought back that sense of america as the future. the presidential race has been discussed as one that was about nothing with no message or mandate, but i don't think that's true. put aside the re-election of barack obama and consider what else happened this week. three states voted to legalize same-sex marriage, which is the civil rights cause of our times. one day we will look back and wonder how people could have been so willing to deny equal treatment under the law to a small minority. and tuesday will stand as one of the most important moments marking the end of that cruelty. two other states voted to legalize recreational use of marijuana, which will mark the beginning of the end of the war on drugs. this may be the most costly and futile war the united states has ever waged. we
your hearing aid do all this? lyric can. to learn more about lyric's advanced technology, call or visit trylyric.com for a risk--free 30--day trial offer. you'll also get a free informational dvd and brochure. why wait? hear today what a little lyric cacan do for you. lyric from phonak. life is on. stuart: the news background to today, number one story, not necessarily in terms of importance but china on this the very day when the new number one takes over there. his name is xipang. impressive numbers china expanding again. item two, greece. they want more money, yep, they want more and they want more time to pay back the already enormous debt. riots continue. seconds from the opening bell. right now esee features will be down green. this market is opening lower again. we're down 434 points the past few days. it is the obama selloff. and it will continue when the market opens. it is open and the opening trend is down again. we're expecting it down 50, to 70 points in the first couple minutes of business. analysts are concerned at production of apple. some of these concerns have eased. t
technology company. certainly when you think about silicon valley and companies that have hit hard times. very view come through it and re-emerge. apple is one that we can all remember having done that. ibm. although not a silicon valley company but technology company. most recently perhaps ebay in a significant decline but i spoke to john at length on friday and it appears they have brought around their marketplace business in addition to continue strong growth at the paypal unit. it's difficult to do. when you come back to yahoo! you have to wonder how do they do it? >> is there an act two? cisco tonight almost every analyst on the street said they're going to miss. >> universal in both miss and then the guidance is going to be negative. david, when you spoke with stevenson, didn't you get the sense that the companies are done spending on anything other than amd on towers? >> they got to spend. you know, stevenson was very outspoken in saying fiscal cliff. we're not spending but we are. we're deciding to spend $14 billion over the next three years. they absolutely have to in order to c
science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. d. this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: with the election over, there's new talk in washington about finally coming to grips with taxes, spending and the deficit. the mammoth problem has been hanging over congress and president for many months, and now, time is running out. in just five days, lawmakers troop back to the capitol for a final, lame-duck session. and they are under mounting pressure to avoid going off the much-talked-about fiscal cliff. come january 1, the bush-era tax cuts will expire as will a 2% payroll tax cut that was passed in december of 2010. at the same time, large automatic spending cuts would begin to bite-- 10% less for defense in 2013 and an 8% cut in domestic programs. the result-- according to federal reserve chairman ben bernanke-- could be disastrous. he said this
and technology. >> the biggest doesn't necessarily mean greatest, does it, gary b? >> no, it didn't. and jonas is right. we'll have a chance to see how quickly, quote, unquote, california's economy grows, but i want to come back to one other point and jonas made the comment, government can create jobs. government cannot create jobs. first off to hire teachers, that's the biggest kenard out there, that's not the government's job. we would have had millions of net jobs, instead zero net jobs. the government does not create jobs, so that's silly. >> jonas, quickly respond. >> china's created jobs. it's not good jobs, government planning jobs, but if you think the government can't create jobs, look across at the state level. >> and that was-- >> you were right before it's crowding out good private sector jobs. >> exactly. >> you can create jobs at the government level. >> i'm talking net jobs. >> go ahead, gary b. >> i'm talking at the time jobs, if i give my money to the government and the government makes up some job, that's money i would have spent elsewhere and another employer would have hire
that industry experts say may have been developed with stolen u.s. technology. that chinese jade 31 stealth fighter has an air intake and wing dimension that is suspiciously similar to the american s35 and a silhouette similar to lockheed martin's f-22 rapture. furthermore u.s. navy officials confirm a russian nuclear-powered attack submarine was detected 300 miles of the east coast of the united states in late october. russia's navy commander announced that on june 1st russian nuclear-powered subs would return to patrolling the world's oceans. lou: fox news national security correspondent. joining me now, former u.s. ambassador. off the coast of a ron. this was peculiar at best. >> is timing may be coincidental. something to do with the elections. what he said when i asked why this information was not released. because of a classified nature of that activity. then normally would not release this information. i think that is strange credulity, but i do think it did not want to make an active war. they pbed, tried to shoot it down, failed. it does not say much for their capabilities. lou: yo
the parched lands of the sahel and congo, technology is transforming things. everything is speeding up. everything is opening up. now, if i can talk about something i actually know about for a moment. this feeling reminds me a little bit, maybe more than a little bit of the arrival of punk rock in the mid 1970's. you see, the clash were the very base of the rock and roll pyramid and overnight gave the finger to the dreadful business, the lurgy at the time that was at the top of the pyramid. it was called progressive rock. epic lyrics, no hooks, no -- great reviews. [laughter] punk bands made no reference of being worthy of the audience. if you want to play, great, grab a guitar and you're in. the clash were like a public service announcement with guitars, and they gave youtube the idea that social activism could make for a very musical riot. so i'd just like to point out that none of your professors, not a single one, not ever has ever drawn or is likely to draw the connection between the arab spring and the clash. just a little intermission. [applause] and ok. sharpen your pencils. i
a major, new bold investment program, going into a new market, expanding a new technology, ect., you are worried about what the tax rate will be when that's generates cash in nine years. the best thing to do is create a lower rate, an expectation that there's not giant tax increases later. >> i agree with that. i think we should do in, but, a, you know we have the highest statutory right and no higher than average effective rates because we have the narrowest base of owl corporate income in the world. >> yeah. >> one of the reasons we have that system is because people like us argued for many years that the more efficient thing, the more, the better way to encourage investment was not to cut the corporate rate, but to have massively accelerated depreciation, expansion of investment, focusing on incentives rather than cutting the rate overall. i think the intuition is changing, but the way we're going it cut the rate is not by closing loopholes, but come out a painful expansions of the base like getting rid of accelerated depreciation and things which have a value so i think -- >> is
&p 500 fell further below the 200 day moving average. technology and financials were the worst performing s&p sectors. palladium and platinum pushed higher at report ed reports of y deficits boosted both metals. jumping nearly 5% while platinum added more than 1%, gold going the other direction and in the day lower falling more than $6. and small business owners remain cautious in october ahead of the presidential election. saying the optimism index rose slightly last month claiming 93.1, while just 4% of those surveyed said they plan to hire. we have the cme trader in the pits of the cme. telling us another downturn is ahead, and says a recession is on the horizon. todd, you say the technicals indicate that we should be going even lower than we have today. why so? >> good afternoon, david. we are now in a technical pattern with lower highs and lower lows. another indication of why we would want it to go lower here. in lower moves we can expect bounces like we had today. i would think any rally we see in the next couple of days will be gladly hauled into. based on the technicals of the ma
. this next oil and natural gas ceo says we have the technology to do it while keeping prices low. david: gary evans, chairman and ceo of magnum hunter resources. they're into oil and natural gas and we welcome him here. gary, good to see you. gary, you know how it goes. whenever we find something of value immediately the government wants to come in and tax it more if they haven't tacked it at all yet. carbon tax the subject was raised with the president. do you expect, are you working into your projections possibility of having to pay more taxes to the government? >> i don't think there is any doubt with this administration being reelected that the bull's-eye is on our industry. it is unfortunate because the only gas industry is the one business in the united states that can bail this country out of the mess it's in. if everybody would just leave us alone, let us find the oil and gas we're discovering in the shale plays we can fix this country's problems. so taxing the industry is definitely something all executives in our business are worried about right now. liz: gary doesn't seem that bad
requirements to install the new or clean-air technologies. chevron says it will repair, not replace, and existing equipment with what was damaged on the massive august 6th on august of this explosion. the company says it will voluntarily cut air pollution emissions, and replace about one-third of the facilities potentially leaky valves and fittings. also, the latest from canceling drtypical $4. the-gasoline prices below $4 per gallon. >> if you are in san francisco it is $3.98. and that a 75 cents less than just one month ago and the one reason we are paying less at the pump is because the refineries are now at full capacity many were taken off line during the summer for maintenance and all the are of lying to that helps with supply and also the winter blend is not as much to produce as the summer blunt. that is why gas prices are also down as that-summer blin-summer blend..s more expensive to produce. and now, with the fall people are not driving as far as in the summer. and as horrible as hurricane super storm sandy it really cut down on the usage of gasoline in that area and that
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. we'll talk technology later on but that's not the only subject. what's coming up? >> reporter: a very cool napa valley. we are very close to silicon valley, so here at napa valley ceo technology summit we'll be joined throughout the day by a number of luminaries from the technology industry. i'll be talking to john donahoe, ceo of ebay. back to you. >> french laundry, that's the key tonight. french laundry. he's smiling like he's already been. meantime, a road map starts at cross section of wall street and washington. third weeks of losses as congressional office highlights difficulties if no fiscal cliff worked out. >> jcpenney shares on sale as it posts a much bigger loss and revenue miss. concerns mounting now about whether ceo ron johnson can right this ship. >> disney shares under pressure. casually optimistic about theme park business. >> groupon, one analyst slashing his down to one. >>> the worries the president and washington lawmakers will not agree on a deal to avoid the fiscal cliff. the cbo warns if an agreement is not struck by the end. year, the u.s. economy would head
cain in ohio, and came within two points. the technology included the so-called system, which was the republican get out the vote technology to ensure we targeted people to get to the polls. that imploded. i'm told on election day, actually, so many hits from around the country as it should have saying, gee, this person voted, this person didn't, target calls, thought it was under attack, and closed down. for those of you here from, again, the technology field with the politics, we, republicans, want to talk to you. [laughter] we need help. the democrat system is calledded gordon, it was effective at microtargetting, and i heard a lot of antedotes, and you'll love somebody gets a call who is a democrat in law school, and it was gee, you know, we see that you have voted, this information is public available. we see you voted at two o'clock on election day, but your sister, at two lane, has not voted, could you call her? that's the level at which they were dealing, whereas, you know, we were flying blind at that point. part of it is technology, and part of a turnout that was imp
not about you. we have so much technology in our store to really show the customers what's going on with their bodies. this is your body there. you can see a little more pressure in the shoulders and in the hips. ... now you can feel what happens as we raise your sleep number setting and allow the bed to contour to your individual shape. oh, wow. that feels really good. at sleep number we've created a collection of innovations dedicated to individualizing your comfort. the sleep number collection, designed around the innovative sleep number bed - a bed with dualair technology that allows you to adjust to the exact comfort your body needs. each of your bodies. so whatever you feel like, sleep number's going to provide it for you. during our semi-annual sleep sale, save $500 on our classic series special edition bed set-but only while supplies last. sale ends soon! you'll only find the innovative sleep number bed at one of our 400 stores, where queen mattresses start at just $699. >>> the author of the romney big prediction is desperately trying to rewrite himself after saying thin
mentioned. saving a lot of money. and this gets back to the prostate. we now have a new technology that we refer to as the 4-k score. it involves four markers in an algorithm and you wind up with a number. this test can be done with a simple drop of blood and the number that you get is an indicator of whether a man has prostate cancer and whether it's of the aggressive type or slow-growing variety. >> we already have one. we have psa -- >> but the psa is highly inaccurate. and the point is this would be done for men who have an elevated psa and that occurs in 5% of the men. now, there are 30 million psas done in a year so roughly between 1 and 1 1/2 million biopsies. 70% has been shown to be negative. there's a lot of effort and pain going into these needless biopsies, not to mention costs. with a million of those, you end up with a $5 billion cost. -- $5,000 cost. with a million of those, you wind up with a $5 billion cost. we think we can eliminate half of those if you do the 4-k score on only the men who have an elevated psa. not only do you save the $2.5 million on the actual cost, but
leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. can you help me with something? nope! good talk. [ male announcer ] or free windows 8 training when you buy a computer at staples. another way staples makes it easier to upgrade. >>> all right. so, the big conversation happening in washington right now is about something which i think is misleadingly been mislabeled the fiscal cliff. it's termed by ben bernanke. >> i think we'll have a misunderstanding about what is going on. i want to take a second to set the context. it goes back to 2010. here is why i find the discussion maddening. 2010, tea party revolt, what happened? people on the right mobilized. there was a lot of backlash against obama care and there was this obsession with the debt and deficit. we are spending too much money, not taking in enough, it's going to hurt this country, we are going to get inflation, high interest rates, we will end up greece. republicans were elected. then a lame duck session. a huge conversation about how horrible the d
was intended to have a sort of a catalytic effect, a accelerating effect on advent of advanced technologies vehicle. that is why it was called the advanced technology vehicle manufacturing program. it was completely separate from the bailout and all other things. unfortunately it was coincident in time. so a lot of people got confused with that. melissa: could you pay it back tomorrow and stop the criminal -- criticism? >> in fact we're paying the loan back in advance. there is schedule repayment, we've been paying interest for about a year. we've been paying the principal payments in advance. and we absolutely are committed to repaying that loan early. so we will do that. melissa: taxpayers will be thrilled to hear that. >> absolutely. melissa: another sticking point buyers get that $7500 credit. in my mind giving somebody food stamps to buy lobster. why would you give somedy credit to go out to buy $100,000 car? how do you respond to that? >> first of all theodel s starts at $57,000. melissa: still lobster. still lobster. >> maybe shrimp or something. melissa: okay. >> but, the goal of te
, and technology plays like microsoft. liz: do you agree that this will end up being a 2009 opportunity? if you look at a stock chart from 2009 easily look like a decent moon shot because it was the low of the past several years. do you see it as more serious? >> it is serious but temporarily serious until the end of the year. we need a fiscal quick compromise so that u.s. households can avoid paying an additional $221 billion in taxes. that works out to 1700 annually. i am telling my clients to stay calm and toys. they are worried and i am talking about affluent individuals and families. they are worrying since our existing president that was reelected for some reason many of my clients felt romney should be the new president and now that reality is just thinking in. this will present a buying opportunity. we just have to get through this concern period. i can't tell you until congress comes together with the president and we fix this. dave: you are looking at nordstrom and it is trading down after hours as well. robert gray will be going through the numbers. is robert available? let me ask yo
cancer. colon cancer and stomach cancer can be identified with the help of fiberoptic technology. a flexible tube called a fiberscope is inserted in the area under investigation. the fibers transmit an image from the lighted end of the scope to an eyepiece or monitor. other cancers that grow within tissues, such as breast cancer and lung cancer, can be detected by x-rays. ct scans and mri's can also be used to find deeply embedded cancers, such as brain cancer. i don't rember being anything but sort of shocked. i couldn't believe it. i had no-- there were no risk factors in my family other than my father, and he was anomalous. i was so healthy, and i mean, i just really didn't know what to do and of course, because i had never thought about it, i was very unprepared. we all have ways of trying to organize what happens to us in a cause/effect relationship in our minds. and that leads us constantly to the same conclusions that if something bad happened to me, there must be some very simple linear explanation in my life for what happened, that this particular lifestyle, this stress
making the wood fire resistant. taking advantage of this technology he's in charge of a big project. the projes collaboration between industry and a leading university. its aim is to construct a high-rise biluilding using noncombustible lumber. wooden buildings are lighter than steel reenforced ones and the elastic allows vibrations to be absorbed. because of this they are known to be resilient to rthqkes. disaster may strike again but he's determined to keep contributing to the creation of materials that can with stand damage. >> translator: noncombustible lumber is useful for building a nation and we'll be able to provide special spaces of a type never seen before. >> reporter: is it possible to build a whole noncombustible town? he aims to take up the challenge. >>> the government abolished prepublic sensorship earlier this year. media is discovering new ways to question authority. we report on a comic artist who has documented some of the changes. >> reporter: standing in the largest city. it has a variety of newspapers and magazines. many publications include satirical cartoons
holdings, marvel technology. >> i think that technology is being passed by. it is a very poorly run company. maybe the 3% yield helps it. i don't want anything to do with that stock. i would like to go to cody in michigan. cody? >> caller: boo-yah. >> wow. nice. >> i want to know what you think of ttc? >> yeah, it's a great housing play. it's a winner. i feel like it's going to continue to win. and let's go to carol in big missouri. carol? >> caller: boo-yah, jim! >> nice overtime win there, carol. what's up? >> caller: yeah, i'm wondering if you think alcoa aluminum is poised for a rebound in 2013. >> in 2013, yes. it does have tremendous tax law selling between now and year end. that is one horrible commodity that he has to deal with. it was like, you know, the copper corporation would be doing good. let's go to daniel in virginia. daniel? >> caller: yes? >> go ahead, daniel. you're up. >> caller: yep. >> you're up. >> caller: yeah, i'm wondering about ssys. >> stratus. yeah, that thing up is too much. that is a register ringer if i ever saw one. i don't want to be in a technology stock u
rushed, particularly technology companies rushed to europe. you'll see in q-1 companies saying, look, we have maintained our european. don't worry about european. if they don't say it, i think we'll sell the stocks. >> worse before it gets better was on the conference call. >> industrial production misses this ridiculous fight between the eu and imf. bank of england cutting growth outlook for the u.k. >> gdp tomorrow. it will be terrible. alco alcoa being struck because they try to close a plant. the conversation will be at the beginning of the conference call and europe -- we're managing europe down to x. european we're going to close europe. ford motor gave you an example of what will happen. we won't let europe bring our company down. latin american, asia turn turne. we won't let europe ruin us. europe will be isolated. that's what happens if you decide to go off the grid like they're doing. their major issue is carbon tax. they keep talking about carbon tax. the european, the german power company talking about having too much solar power which is bringing down and able to make money
the holiday stress. fedex office. that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. heartburn symptoms causedelieve by acid reflux disease.etter one osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. >>> i'm not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> we should not
to the nasdaq, she is following the big movers. >> technology a sore spot for the markets now the s and p tech index trading in correction territory, microsoft down on the departure of the windows division head. management shakeups the street likes, this one they clearly don't a quick check on social media stocks, facebook shares under a little bit of pressure as the street braces for a possible postlockup selling, the biggest lockup since facebook went public. roughly 800 million shares, sue, back to you. >> thank you very much, seem ma. to the bond market now, rick santelli is tracking the action for us at the cme. how are yields doing today, ricky? >> still continues to be a one-way market. the only thing we a by how big of a one-way street is it on? today, only a couple of basis points. look at a chart starting august 1st most important feature, close to a two-month low in yields on the ten yours as well as the 30 as well as the bond. if we look at foreign exchange, very important, see october 1st dollar index, hey what is going on? dollar index is doing well. things really be that bad? ho
're looking for powerful brands because you can't invent a brand over night. we're look for technology that other people can't replicate. looking for access to growing not shrinking markets. there are a lot of nuances to those, but those things give a company pricing power. liz: president obama, it's just been announced will be holding a news conference on wednesday. okay, he just had one. he's going to hold another one. we're presuming that means that there will be an update on the situation. let's watch the levels of the market right now. we're up about 7 points. see if the market cares about that announcement at all. we will watch as we get closer. just 50 minutes before the closing bell rings. go on. >> my point is i want people to be positioned so they don't have to worry about what happens next week. we will all pay attention and still be prepared for five years from now. liz: you stay pick stocks that have ideas or technology that cannot be replicated. >> ideas, technology, brands and access to markets that are growing and hard to get into. those are the kinds of stocks you want
% more brush movements than leading sonic technology. oral-b power brushes. go to oralb.com for the latest offers. [ male announcer ] why do more emergency workers everywhere trust duracell...?? [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. >> p >> pelley: president obama will visit burma this month, the first for an american president. burma, in southeast asia, has been ruled by a military dictatorship for 50 years, but ntcently it's taken steps toward democracy and the president's trip is a reward for that. the pakistani school girl who stood up to the taliban is making a recovery in i had british hospital. in ie are new pictures of 15- year-old malala yousufzai reading some of the get well thrds that have pored in. malala was shot in the head last month after speaking out for girls' education. her father said she will not be blenced. also in britain, a da
were weak, falling 1.6%. and the tech sector was down another 1.4%. technology has been particular weak in this recent market sell- off. new product launches from apple and microsoft have not been enough to erase worries about consumer and company spending on technology. the sector exchange traded tells the story-- it fell 1.4% today at a three and a half month low. internet networking gear maker cisco systems was among those leading the way lower. it fell 2.2%. cisco is due to report earnings next week, giving investors a peak into its turnaround effort and corporate tech spending. the holiday sales may be starting earlier than ever this year, but some retailers, they've seen investor sales hit their stock prices. kohl's and coach target different types of shoppers, but both suffered stock drops. coach fell 5.3%. coach's business has been helped by its stores in china. a new set of communist leaders are expected to be announced in china in the coming days. meantime, kohl's fell 5.1%, despite better than expected quarterly results. it's holiday forecast was a little shy of expectations.
which ignores the quantum leap in weapons technology between then and now. as the president pointed out in the debates, no other country comes close. >> we spend more on our military than the next ten countries combined. china, russia, france, the united kingdom, you name it, next ten. >> reporter: sequestration would not change that according to the center for strategic and budgetary assessment, it is not the size of the cuts, about $50 billion a year that would be so damaging but the fact that they would be across-the-board. panetta adds that except for military pay every program from the joint strike fighter military band was be cut by the same amount, 23%. >> it's absolutely a foolish thing to do. if you want to cut the defense budget that's fine. this is a foolish way to do it. >> reporter: in other words, if the pentagon were allowed to pick and choose its cuts sequestration might not be the disaster secretary panetta is predicting. david martin, cbs news, the pentagon. >> glor: pentagon contractors aren't the only one in with a stake in this debate. 120,000 small contractors take
interesting. >> a lot of western technology firms build for instance disk drives in thailand. when thai experienced severe flooding those western companies got hit. what is attractive about thailand for long-term investors? >> it's mainly political to begin with. as you know they went through a lot of political turmoil. you had the red shirts, the yellow shirts, fighting on the streets of bangkok and so forth but they have a fufl foundation for political stability which is very good. and also they have a very diversified economy. >> we'll continue talking with mark mobius tomorrow, china's communist party selects a new set of leaders this week. we will talk about how this change in power could impact china's economic relationship with america, and american investors. >> reporter: i'm sylvia hall in washington- still ahead, u.s. borrowers owe more than $1 trillion in student loan debt. so could helping them pay it down be a $1 trillion industry? i'll introduce you to some entrepreneurs who think so. >> susie: besides the fiscal cliff, investors and traders on wall street were talking abo
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